Confidence among UK consumers fell again in July, raising fears the country will fall into a double-dip recession.

There was a three point fall on the latest GfK NOP Consumer Confidence Index month, taking it to -22 points.

And Nick Moon, managing director of GfK NOP Social Research, warned this has increased the likelihood the country will fall back into recession, as the index is usually a good measure of future economic performance.

CFD brokers have now seen the index fall for five months in a row and are unlikely to react favourably to news respondents’ confidence in both their personal financial situation and the general economy for the next year has fallen.

GfK NOP is not the only body to record a dip in consumer confidence. Earlier in the months, lender Nationwide said its index dropped to 53 points in June.

It is now 21 points off the interim high reached in February.

Economic growth slowed in the US during the second quarter of 2010, constrained by an increase in imports.

New figures from the country’s commerce department showed GDP stood at 2.4 per cent for the three months to June 30th, down from the adjusted 3.7 per cent growth that was seen in the first six months of the year.

Online brokers operating on US share trading platforms are unlikely to have welcomed the news, as the Dow Jones, Standard and Poor’s 500 and Nasdaq were all down following the announcement.

A survey conducted by Bloomberg indicated economists expected growth to be 2.6 per cent and Ethan Harris of Bank of America-Merrill Lynch Global Research told the news agency a boost in the employment market is needed to kick-start the recovery.

"We’re probably not going to see a really strong number for a while," he remarked, adding: "The economy is muddling through".

The euro declined against the yen today (July 29th), moving away from the recent two-month high on selling by Japanese exporters.

Reuters reported the euro slipped by 0.2 per cent versus the Japanese currency to 113.40 yen (83p), pulling away from the 114.74 yen struck in Forex trading yesterday.

Meanwhile, the news agency reports the New Zealand dollar declined quickly following the Reserve Bank of New Zealand’s announcement interest rate hikes would be less than previously believed.

The kiwi slipped to a low of close to $0.7205, from around $0.7280 seen before the announcement.

Hideki Amikura, deputy general manager of forex trading at Nomura Trust and Banking, said:"The kiwi was dented by dovish comments from New Zealand’s central bank, that came a day after data showed inflation has cooled in Australia."

At 12:14 BST yesterday, the euro was trading at 114.00 yen on trading platforms.

Gold edged higher yesterday (July 28th) as some investors looked to take advantage of a three-month low.

Marketwatch reports the commodity for delivery in August added $2.40 (£1.54), equivalent to 0.2 per cent, to rise to $1,160.40 an ounce in CFD trading.

FactSet Research stated an intraday high of $1,165 an ounce was hit.

Matt Zeman, a trader with LaSalle Futures Group in Chicago suggested it may be a while before gold sees price gains in a meaningful way due to the technical damage caused by Tuesday’s lows.

"We’re going to need some type of catalyst for the market bulls to regain the upper hand," Zeman added.

Gold had lost 2.1 per cent on Tuesday to settle at $1,158 an ounce, its lowest price since April 26th.

Reuters recently reported strong US home sales data had damaged the appeal of gold, which is often seen as a safe haven commodity.

The euro stayed within reach of an 11-week high versus the dollar today (July 28th), following solid economic data and bank earnings.

Reuters reports the currency remained close to the $1.3045 (83p) in Forex trading the previous day, hovering around $1.3000.

"Clearly there’s a risk-on situation as the market is starting to believe there’s a European recovery in place, but there is thin liquidity behind it," said Neil Mellor, currency strategist at Bank of New York Mellon.

Following the recent signs of improvement Jane Foley, research director at Forex.com, cautioned there is still potential for the market to be affected by headwinds in Europe from "austerity measures, possible haircuts and sovereign defaults".

Meanwhile, the euro was down slightly on the day against the Japanese currency at 114.00 yen by 12:14 BST.

Ian Spreadbury, Fidelity’s strategic bond manager, recently suggested it is currently unclear whether the economy is improving or if it is likely to make a return to recession.

Oil prices rose slightly above $77 (£49.33) per barrel today (July 28th) in Asia, following a report revealing supplies of crude increased in the US last week.

The Associated Press reports benchmark crude for delivery in September remained steady at $77.50 a barrel in CFD trading by late afternoon Singapore time.

According to data released late yesterday by the American Petroleum Institute, crude inventories increased by 3.1 million barrels last week, suggesting demand may be weak.

The jump was unexpected as a survey from Platts had previously revealed analysts were anticipating a drop of 2.3 million barrels.

Sander Capital said in a statement: "The price of oil should stay in the $75 range for now."

Investors may now be awaiting a report from The Energy Department’s Energy Information Administration , which is scheduled to be released later today.

The current values are around half the record highs of approximately $144 per barrel, which were seen in July 2008.

Gold increased today (July 27th) as prices briefly reached the 100-day moving average.

Reuters reports spot gold added $1.05 (67p) to $1,184.80 an ounce by 11:36 local time.

The news agency states gold had declined by close to $8 yesterday after strong US home sales data damaged its appeal on trading platforms as a safe haven commodity.

"I think definitely what we see is a bit of indecision now. I think we do need new impetus for people to go into gold and for people to be concerned about the economy again," said Ong Yi Ling, an investment analyst at Phillip Futures in Singapore.

He added he does not expect prices to fall below $1,175, referring to the two-month low hit last week.

Chae Un Soo, a Seoul-based trader with Korea Exchange Bank Futures, recently suggested in the longer term, gold has the potential to power higher again as signs of an economic rebound are likely to encourage investors to use it as an inflation hedge.

Sterling has risen to a five-month high versus the dollar today (July 27th), following positive UK retail sales data.

Reuters reports the currency was also boosted by better-than-expected bank earnings results.

The news agency states sterling increased to $1.5535 in Forex trading, its highest level since late February, but by 11:17 BST it had settled at $1.5517, a 0.2 per cent increase.

Howard Archer, chief European and UK economist at IHS Global Insight, said: "Following on from last week’s news that GDP growth had surprised sharply on the upside in the second quarter, [there was] some more very good news on the UK economy."

He added, despite this, suspicion remains some consumers are likely to find life challenging due to the government’s forthcoming fiscal squeeze.

Meanwhile, the euro remained steady trading at 83.85p.

Sterling has been supported by figures released on Friday, which indicated the UK economy was on a much better footing than many had thought.

Sterling rose to hit a three-month high against the dollar today (July 26th) amid a belief the European economy may be improving.

Reuters reports by 08:36 BST, sterling had risen to $1.5502, an increase of 0.4 per cent on the day, poking above options-related barriers suspected around $1.5500 to hit its highest level in Forex trading since mid-April.

Figures on Friday showed the UK economy improved by 1.1 percent in the second quarter, suggesting the economy was on a much better footing than many had thought and this was still supporting sterling today.

However, the news agency stated there is some belief from investors that growth momentum may stutter as the UK government implements deep spending cuts and tax rises later this year.

Ian Spreadbury, Fidelity’s strategic bond manager, recently suggested in his 20 years as a fund manager he has never had to work in such uncertain times, as it is currently unclear whether the economy is improving or making a return to recession.

The value of gold has risen today (July 26th) amid speculation that prices less than $1,200 (£776.90) an ounce are helping to improve the level of demand.

The commodity for immediate delivery rose to $1,193.35 on trading platforms, an increase of 0.4 per cent, by 12:56 local time in Singapore.

Gold has weakened 3.9 per cent in July for the first decline in four months, following a record $1,265.30 on June 21st.

Chae Un Soo, a Seoul-based trader with Korea Exchange Bank Futures, said: "In the longer term, gold has the potential to power higher again as signs of an economic rebound are likely to provide an excuse for investors to build up positions as an inflation hedge."

He added that physical buying is occurring as prices remain below $1,200.

Robert Lockie, investment manager for London-based Bloomsbury Financial Planning, recently suggested that investors are less inclined to take equity risk after market falls and when the future looks uncertain.

The euro steadied versus the dollar today (July 23rd), retaining gains made the previous day following strong eurozone data and US corporate earnings.

Reuters reports that investors may now be looking to stress tests results due later today to indicate the next move in Forex trading.

The news agency stated the currency has had support at around $1.2720 (83p), an interim high from July 9th set during the recent surge from a four-year low.

A break above $1.2720 to the $1.3030 mark could see the euro testing $1.3090 to $1.3125.

A senior FX trader at a big Japanese bank suggested few people are seriously worried about the bank stress tests results now and this is supporting the euro.

"But it’s hard to see whether the euro will extend gains against the dollar after the test results as investors are well aware the root problem of the eurozone debt woes is sovereign credit trouble," he added.

Earlier this year the euro hit a four-year low of $1.1876.

Investors are currently favouring safety rather than seeking profits, it has been suggested.

According to the FT Adviser, the uncertainties seen on trading platforms has led to risk taking being ditched in favour of a safer option.

Robert Lockie, investment manager for London-based Bloomsbury Financial Planning, said: "It probably is a flight to safety in that investors are less inclined to take equity risk after market falls and when the future looks uncertain."

He added the impact on the market of investor activity is that prices are more likely to reflect the true value of the assets traded.

Deborah Fuhr, managing director and global head of ETF research and implementation strategy for BlackRock, also stated investors were giving much more consideration to where they put their money.

Dan Hallett, director of asset management for HighView Financial Group, recently told the Windsor Star it is worth people holding gold as part of a diversified CFD spread.

The euro fell against sterling yesterday (July 21st), amid the view that inflation was set to remain stubbornly high.

Reuters reports a 0.1 per cent decline was seen for the euro to take it to 84.28p, while earlier in the day it had been at 83.75p on trading platforms, close to the 50-day moving average.

Commenting on the changes, Ian Stannard, senior currency analyst at BNP Paribas, said: "The euro is generally weaker so euro/sterling is down but overall I think the outlook for the pound is negative after the Monetary Policy Committee questioned the UK’s growth outlook."

Traders may now be looking forward to first estimate gross domestic product data tomorrow, which is expected to show the UK economy expanded by 0.6 per cent in the second quarter.

The news agency stated by 08:47 BST yesterday the euro was 0.1 per cent higher against the dollar on trading platforms, taking it to $1.2895.

Investors are currently showing caution due to the state of the markets, it has been suggested.

The Daily Telegraph noted that a growing number of people are opting for risk-averse funds that claim to offer flexibility, which may prove ideal as CFD trading remains hard to predict.

Although stock markets are always unpredictable, they are proving particularly challenging to call due to the ongoing economic turbulence, it stated.

Ian Spreadbury, Fidelity’s strategic bond manager, suggested in his 20 years as a fund manager he has never had to work in such uncertain times.

He said: "It isn’t clear whether we are heading into recovery or back into recession, whether this will herald an inflationary period or a prolonged deflationary one."

The future of interest rates is another factor to consider, he added.

Dan Hallett, director of asset management for HighView Financial Group, recently told the Windsor Star it is worth people holding gold as part of a diversified CFD spread.

The euro has remained near to the dollar today (July 21st), after achieving close to a ten-week high.

Reuters reports the currency was supported in Forex trading by strong US corporate earnings that also boosted global shares.

The news agency states by 08:47 BST the euro was 0.1 per cent higher on the day at $1.2895 (84p), having pulled back from $1.3029 seen on Tuesday, its strongest since May 10.

According to traders, the euro could struggle to achieve gains in the near future as investors take profits of increases that has seen the currency rise by more than eight per cent since hitting a four-year low of $1.1876 in early June.

"People are less worried about the euro than they were a month or two months ago," said Johan Javeus, head of global strategy at SEB in Stockholm.

A Sharecast report yesterday suggested investors had largely shrugged off the decision to downgrade Ireland’s credit rating and the withdrawal of Hungary’s IMF-backed rescue finance package.